US economy can remain robust in the face of Trumpisms at Davos

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If all goes according to plan, president Trump will this week descend on the annual shindig of the international great and the good at Davos in Switzerland. I suspect the attendees will notice something of a contrast with the visit of China’s president Xi last year. Astonishingly for a Chinese leader, he tried to position himself as the champion of free trade and open markets. By contrast, over the last two years, Donald Trump has seemed to position himself as the champion of protectionism. It will be intriguing to see whether this image is reinforced this week.

Of course, with Donald Trump you can never be sure exactly what he is going to say. But at the very least I would expect him to give...